RECENTLY DEVELOPMENT ON HOW TO FILE RECORDS IN AN ORGANIZATION
Every Organization chooses the pattern of filling its records. This is because different organizations generate and use different types of records for which its filling style may certainly be specific and unique.
However, in most organizations records are filled in five major ways namely:
- Alphabetical order
- Subject order
- Geographical arrangement
- Chronological filing order
- Numeric filing pattern
WHY RECORDS MANAGEMENT IS AN IMPORTANT FUNCTION OF YOUR BUSINESS
In order to prevent having to deal with the consequences of records problems, a solid records management plan needs to be in place in all organizations – both big and small.
Respond To Audits and Discovery Requests in an Organized and Compliant FashioN
Having a well-managed records management program in place makes responding to stressful events such as IRS audits less costly and time consuming. How much more does it cost you when you show up with a box of receipts at a tax preparer’s office versus having an itemized list of receipts, receipts organized by account and everything in order? The cost difference can be significant. Now magnify that by all the different records and accounts you have to support your business. Just the perception of disorganization will give an auditor pause and make the process take longer.
Save Money With Respect To Finding and Storing Records and Information
Records management practices help you to identify what information is important to keep, how long to keep it and when to securely destroy it. Holding on to everything takes up valuable real estate and office space. Holding on to everything may also subject the company to unnecessary litigation when documents are retained beyond their required life. Are you running out of space in your office? Are your employees constantly looking for information that they can’t find – both on their desks and on their computers? How much money is that costing the company?
Also Read >> WHAT IS RECORD AND INFORMATION MANAGEMENT: KEY DEFINITION